Monday October 5,2015 : PMU ENTERS BRAZIL
New era for Brazilian horse racing.
French operator Pari Mutuel Urbain (PMU), in collaboration with France Galop and LeTrot, has entered into a joint venture with the Jockey Club Brasileiro (JCB) for the advancement of horse racing in the country.
Through a newly created subsidiary, PMU Brasil, PMU will operate horse race betting on behalf of the JCB, including marketing in retail outlets, online and telephone betting and live streaming opportunities.
Hurstel Xavier, president and chief executive officer of PMU said last week the arrangement will revitalise and enhance Brazilian horse racing.
"Through this partnership with PMU, we are entering a new era for horse racing in Brazil. I am convinced that the PMU, with its expertise and as world's 3rd largest operator, will bring a more professional approach to the management of horse race betting in our country,” said Carlos Palermo, president of the JCB.
“For JCB, this agreement will allow the transfer of know-how with the formation of Brazilian teams and new resources for the development of local betting."